Published Monday, 13 October, 2008 at 04:20 PM
Minister for Public Works, Housing and Information and Communication Technology
The Honourable Robert Schwarten
RENTS CONTINUE TO RISE ACROSS THE STATE
Renters are continuing to do it tough with the cost of renting a two-bedroom unit in Queensland jumping 9.3% in the past 12 months, Housing Minister Robert Schwarten said today.
Mr Schwarten said rental data released today by the Residential Tenancies Authority also showed the cost of renting a three-bedroom house has increased 8.5%.
“The pain is widespread but major centres like Ipswich, Mount Isa, Kingaroy and Townsville have seen the cost of renting skyrocket,” Mr Schwarten said.
“In Mount Isa, the median cost of renting a two-bedroom unit has skyrocketed 30.4% from $230 to $300 per week while three-bedroom houses jumped 19.4% from $360 to $430 per week.
“In Townsville, the cost of a three-bedroom house jumped 15.8% from $285 to $330 per week while the median cost of a two-bedroom unit jumped 10.2% from $245 to $270.
“In Kingaroy, the cost of a three-bedroom house rose to $230 per week, up from $200 only 12 months ago – an increase of 15% while two-bedroom units in Ipswich recorded a similar increase with the cost rising from $190 to $220 per week (15.8%).”
In the South East, the cost of a two-bedroom unit in Brisbane increased by around 13% from $305 to $345 and three-bedroom houses jumped from $325 to $360 (10.8%).
“Skyrocketing rents, coupled with record low vacancy rates demonstrate that the private rental market is in crisis,” Mr Schwarten said.
“That is why the Bligh Government is working with the Rudd Government to boost the supply of affordable dwellings in the private market.
“The National Rental Affordability Scheme will add 50,000 new dwellings to a new regulated private market aimed at housing low income earners.”
The median rental data is available from the RTA website at www.rta.qld.gov.au.
Media contact: Scott Chandler on (07) 3237 1832
Mr Schwarten said rental data released today by the Residential Tenancies Authority also showed the cost of renting a three-bedroom house has increased 8.5%.
“The pain is widespread but major centres like Ipswich, Mount Isa, Kingaroy and Townsville have seen the cost of renting skyrocket,” Mr Schwarten said.
“In Mount Isa, the median cost of renting a two-bedroom unit has skyrocketed 30.4% from $230 to $300 per week while three-bedroom houses jumped 19.4% from $360 to $430 per week.
“In Townsville, the cost of a three-bedroom house jumped 15.8% from $285 to $330 per week while the median cost of a two-bedroom unit jumped 10.2% from $245 to $270.
“In Kingaroy, the cost of a three-bedroom house rose to $230 per week, up from $200 only 12 months ago – an increase of 15% while two-bedroom units in Ipswich recorded a similar increase with the cost rising from $190 to $220 per week (15.8%).”
In the South East, the cost of a two-bedroom unit in Brisbane increased by around 13% from $305 to $345 and three-bedroom houses jumped from $325 to $360 (10.8%).
“Skyrocketing rents, coupled with record low vacancy rates demonstrate that the private rental market is in crisis,” Mr Schwarten said.
“That is why the Bligh Government is working with the Rudd Government to boost the supply of affordable dwellings in the private market.
“The National Rental Affordability Scheme will add 50,000 new dwellings to a new regulated private market aimed at housing low income earners.”
The median rental data is available from the RTA website at www.rta.qld.gov.au.
Media contact: Scott Chandler on (07) 3237 1832